Tue, Sep 10, 10:26 AM (102 days ago)
**Better For You Wellness, Inc. 2024 10-K Summary** For the fiscal year ending February 28, 2024, Better For You Wellness, Inc. reported revenues of $10,321, a decline from $11,414 in the previous year, attributed to decreased sales from its Mango Moi subsidiary, offset by new beverage line sales. The company achieved a gross profit of $4,969, a turnaround from a gross loss of $6,995, driven by reduced cost of goods sold due to prior inventory write-offs. Operating expenses decreased by 33% to $2,242,403, resulting in a net loss of $2,453,934, a 30% improvement compared to the prior year. The company faces significant liquidity challenges, with a working capital deficit of $2,065,072 and an accumulated deficit of $8,529,535. A reverse stock split within a range of 500-to-1 to 5000-to-1 has been approved to enhance share value. Strategic acquisitions, including The Ideation Lab, aim to expand market presence in the wellness sector, particularly in plant-based products. The company emphasizes its focus on coffee products, anticipating substantial revenue growth post-funding. Key risks include ongoing liquidity issues, competitive pressures, and internal control weaknesses. The management is actively seeking additional financing to support operations and growth initiatives.